Graphic Packaging Holding Company $GPK Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Graphic Packaging Holding Company (NYSE:GPK) by 72.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,306 shares of the industrial products company’s stock after selling 57,445 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Graphic Packaging were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Graphic Packaging during the first quarter worth approximately $28,000. Brooklyn Investment Group grew its position in shares of Graphic Packaging by 69.9% during the first quarter. Brooklyn Investment Group now owns 1,065 shares of the industrial products company’s stock worth $28,000 after buying an additional 438 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Graphic Packaging during the first quarter worth approximately $42,000. LRI Investments LLC grew its position in shares of Graphic Packaging by 48.3% during the second quarter. LRI Investments LLC now owns 2,073 shares of the industrial products company’s stock worth $44,000 after buying an additional 675 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Graphic Packaging during the first quarter worth approximately $64,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Price Performance

Shares of NYSE GPK opened at $15.98 on Friday. Graphic Packaging Holding Company has a fifty-two week low of $15.67 and a fifty-two week high of $30.49. The firm’s 50-day simple moving average is $19.34 and its 200 day simple moving average is $21.49. The company has a quick ratio of 0.56, a current ratio of 1.43 and a debt-to-equity ratio of 1.68. The stock has a market cap of $4.73 billion, a P/E ratio of 9.03 and a beta of 0.74.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Equities analysts expect that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Insider Activity

In other Graphic Packaging news, Director Philip R. Martens sold 7,015 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $21.80, for a total value of $152,927.00. Following the sale, the director directly owned 26,811 shares in the company, valued at approximately $584,479.80. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph P. Yost sold 30,000 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $22.72, for a total transaction of $681,600.00. Following the completion of the sale, the executive vice president owned 255,203 shares in the company, valued at approximately $5,798,212.16. This trade represents a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GPK. Raymond James Financial downgraded shares of Graphic Packaging from an “outperform” rating to a “market perform” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Graphic Packaging in a research note on Wednesday, October 8th. Truist Financial cut their target price on Graphic Packaging from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. Bank of America reiterated a “neutral” rating and issued a $24.00 target price on shares of Graphic Packaging in a research note on Thursday, October 9th. Finally, UBS Group cut their target price on Graphic Packaging from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.00.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.